State Board of Administration of Florida Retirement System cut its stake in shares of TFS Financial Co. (NASDAQ:TFSL – Get Rating) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,965 shares of the bank's stock after selling 4,340 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.05% of TFS Financial worth $1,949,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in TFSL. Illinois Municipal Retirement Fund lifted its stake in TFS Financial by 77.9% in the second quarter. Illinois Municipal Retirement Fund now owns 34,123 shares of the bank's stock valued at $469,000 after buying an additional 14,939 shares during the last quarter. Nisa Investment Advisors LLC grew its position in TFS Financial by 42.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,000 shares of the bank's stock worth $275,000 after purchasing an additional 6,000 shares during the last quarter. Aigen Investment Management LP increased its stake in shares of TFS Financial by 43.3% in the second quarter. Aigen Investment Management LP now owns 26,199 shares of the bank's stock valued at $360,000 after purchasing an additional 7,920 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of TFS Financial by 16.8% during the second quarter. Treasurer of the State of North Carolina now owns 21,181 shares of the bank's stock valued at $291,000 after buying an additional 3,045 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of TFS Financial during the second quarter worth approximately $168,000. 8.99% of the stock is currently owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In related news, Director Martin J. Cohen sold 6,300 shares of the business's stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $14.92, for a total value of $93,996.00. Following the sale, the director now directly owns 19,200 shares in the company, valued at approximately $286,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Martin J. Cohen sold 6,300 shares of the company's stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $14.92, for a total transaction of $93,996.00. Following the completion of the sale, the director now directly owns 19,200 shares of the company's stock, valued at $286,464. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy W. Mulhern sold 3,482 shares of TFS Financial stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $13.73, for a total value of $47,807.86. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
TFS Financial Price Performance
Shares of NASDAQ:TFSL opened at $14.15 on Wednesday. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 52.41 and a beta of 0.53. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.55 and a quick ratio of 1.55. TFS Financial Co. has a 12 month low of $12.45 and a 12 month high of $19.97. The stock's 50 day moving average price is $13.50 and its 200 day moving average price is $14.02.
TFS Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 29th will be issued a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a yield of 7.99%. TFS Financial's payout ratio is currently 418.52%.
Analysts Set New Price Targets
TFSL has been the topic of several recent analyst reports. Piper Sandler cut their target price on TFS Financial to $19.00 in a research note on Thursday, September 29th. StockNews.com started coverage on shares of TFS Financial in a research report on Wednesday, October 12th. They issued a "hold" rating for the company.
About TFS Financial
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TFS Financial Corporation, through its subsidiaries, provides retail consumer banking services in the United States. Its deposit products include savings, money market, checking, individual retirement, and other qualified plan accounts, as well as certificates of deposit. The company also provides residential real estate mortgage loans, residential construction loans, and home equity loans and lines of credit, as well as purchase mortgages and first mortgage refinance loans.
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